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Question - On March 23, 2020, Saturn Investments Corporation purchases a computer costing $5,000 (5-year property) for business use. On November 27, 2020, it pays $4,000 for new office furniture (7-year property). It does not wish to use the Section 179 election to expense and elects not to claim bonus depreciation. How much depreciation may Saturn deduct on the computer for 2020?
a. $3,500
b. $2,625
c. $1,000
d. $3,325
e. $1,750
During the 2018 calendar tax year, the corporation had ordinary taxable income of $200,000, How much taxable income, in total
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